2015 was a bit of a break out year for the Lake Vermilion real estate market. The total of completed sales increased to 89 from the previous 2014 high of 73.

That’s a whopping 22% increase from last year!

The total dollar amount for Lake Vermilion sales in calendar year 2015 is $25,611,050. That’s an increase of $6,509,343 from the 2014 total of $19,101,707. The average sales amount for that group was $287,764. That’s an increase of $26,097 from the 2014 average of $261,667. The overall sales price range for 2015 was $35,000 to $850,000. That range for 2014 was $8,000 to $1,200,000.

Please let me know if you have any questions related to these details. I am also happy to provide additional information on the Lake Vermilion real estate market.

Happy New Year! May 2016 be happy, healthy, and prosperous for all!

(As always, the grey lines show previous years and the red line represents 2015 completed sales.)

It certainly looks like we’re headed for a break out year in the Lake Vermilion area real estate market!

As the chart shows, 2015 will, most likely, produce significantly more completed sales than any of the previous 10 years.

Numerous factors may contribute to this healthy market… stabilizing values, low interest rates, an active buyer pool, and engaged sellers. And, of course, the ongoing and undeniable fact that Lake Vermilion is a beautiful place to live, work, or play.

The remainder of the year should show continued market strength. I may have to to extend the chart scale to accommodate the final numbers.

As always, please let me know if you have any questions related to this information. I am also happy to provide additional details on the Lake Vermilion real estate market.

(The grey lines show previous years and the red line represents 2015 completed sales.)

Year to date in 2015 there have been 9 completed sales on Lake Vermilion with an average selling price of $97,066. Last year (2014) there were 6 completed sales with an average selling price of $124,782.

It appears the lower priced waterfront properties are more likely to sell in the first 3 months of the calendar year when winter conditions present their greatest obstacle to the sales process.

It looks like the Lake Vermilion end of year final sales total will be a real horse race with 2013. I’ll post the final “Comparative Lake Vermilion YTD Sales” graph after the first of the year. Please check back soon.